1
00:00:00,440 --> 00:00:03,040
Speaker 1: Let me ask you a question. You spent your whole

2
00:00:03,120 --> 00:00:06,839
life saving money for retirement. You worked hard, you contributed

3
00:00:06,879 --> 00:00:10,599
to your savings, you tried to make good financial decisions,

4
00:00:10,599 --> 00:00:16,039
and now you're fully retired. But suddenly something strained happens.

5
00:00:16,120 --> 00:00:21,079
Instead of worrying about how to save money, you start

6
00:00:21,079 --> 00:00:24,800
worrying about how to spend it, and for many retirees

7
00:00:24,839 --> 00:00:30,239
that become surprisingly difficult. Has that ever happened to you? Now,

8
00:00:30,320 --> 00:00:33,119
let's look at the other side. Some retirees, they retire

9
00:00:33,119 --> 00:00:37,479
and they spend money so fast, too much money, too fast.

10
00:00:37,679 --> 00:00:40,399
So we have the two opposites. Some spend too fast,

11
00:00:40,679 --> 00:00:42,920
some are afraid of running out of money, and they

12
00:00:42,960 --> 00:00:47,439
barely spend anything at all. So today I want to

13
00:00:47,479 --> 00:00:50,560
talk to you about something that I call the retirement

14
00:00:51,039 --> 00:00:56,119
spending sweet spot, that place in the middle where you're

15
00:00:56,280 --> 00:01:00,920
enjoying life but you're not constantly worrying about money. Because

16
00:01:00,960 --> 00:01:05,840
retirement isn't just about having money, although it helps, it's

17
00:01:05,879 --> 00:01:10,120
about using it wisely to create a life you enjoy.

18
00:01:10,799 --> 00:01:13,879
I'm Maureen Debransky. This is life starts at retirement. I

19
00:01:13,920 --> 00:01:18,439
produce a retirement lifestyle video once a week. Now most

20
00:01:18,480 --> 00:01:21,120
of us or many of us have spent a lot

21
00:01:21,200 --> 00:01:25,920
of time in our days saving money. We were taught

22
00:01:26,239 --> 00:01:29,319
to save your money, to don't waste your money, to

23
00:01:29,400 --> 00:01:32,640
be responsible for decades. At least in my life, the

24
00:01:32,680 --> 00:01:37,599
goal was very, very simple. Accumulate, build my retirement account,

25
00:01:37,599 --> 00:01:41,079
pay down my house, prepare for the future. And then,

26
00:01:41,159 --> 00:01:47,000
like I said, the whole strategy changes. Suddenly, the financial

27
00:01:47,040 --> 00:01:52,840
advice becomes start spending your savings. Oh my gosh. And

28
00:01:53,439 --> 00:01:59,799
psychologically that's often a very difficult shift. In fact, I remember,

29
00:02:00,359 --> 00:02:03,079
I remember the first time I took money out of

30
00:02:03,120 --> 00:02:07,000
my retirement savings account. Oh, I almost threw up. I

31
00:02:07,079 --> 00:02:09,719
was almost sick to my stomach. And I think it's

32
00:02:09,759 --> 00:02:12,960
because so many of us feel like we're breaking the

33
00:02:13,039 --> 00:02:16,479
rules that we followed and were drilled into us our

34
00:02:16,520 --> 00:02:20,960
whole entire lives. Now, I've spoken to so many retirees

35
00:02:21,000 --> 00:02:23,039
who say things like this, I feel guilty if I

36
00:02:23,080 --> 00:02:26,479
spend money, or what if I live longer than I expect,

37
00:02:26,960 --> 00:02:30,960
or even this, what if something goes wrong? So instead

38
00:02:30,960 --> 00:02:36,639
of enjoying their retirement, some people really feel paralyzed by fear.

39
00:02:37,199 --> 00:02:40,639
They watch every single dollar, They hesitate to travel, they

40
00:02:40,719 --> 00:02:47,080
put off experiences, they've dreamed about for years, and sometimes, sadly,

41
00:02:47,759 --> 00:02:51,639
they wait too long. Now, as I mentioned again, there's

42
00:02:51,680 --> 00:02:54,719
the other side of the problem. Some retirees go from

43
00:02:54,879 --> 00:02:58,800
saving their whole entire life to suddenly thinking, WHOA, now's

44
00:02:58,879 --> 00:03:01,960
the time to live. So they travel constantly, they buy

45
00:03:02,039 --> 00:03:05,599
expensive toys, they upgrade their homes, and in the early

46
00:03:05,719 --> 00:03:09,840
years of their retirement they spend far more than they expected.

47
00:03:10,439 --> 00:03:13,120
Sometimes they just assume that their lifestyle will stay the

48
00:03:13,120 --> 00:03:17,719
same forever. But retirement really can last twenty twenty five

49
00:03:17,840 --> 00:03:22,039
thirty years, which is a long time. So we have

50
00:03:22,199 --> 00:03:26,159
these two extremes. One is afraid to spend, the other

51
00:03:26,319 --> 00:03:30,639
spends two quickly, and neither approach really leads to a relaxed,

52
00:03:31,199 --> 00:03:36,199
happy retirement. So what we're looking for is something in

53
00:03:36,240 --> 00:03:41,360
the middle. That retirement spending sweet spot that I mentioned.

54
00:03:41,599 --> 00:03:44,759
Now that sweet spot, I think everyone's will be a

55
00:03:44,800 --> 00:03:47,000
little bit different, but I think it should involve three

56
00:03:47,120 --> 00:03:52,520
different things. Number one security, number two freedom, and number

57
00:03:52,599 --> 00:03:56,599
three joy. So let's look at those security. Security to

58
00:03:56,680 --> 00:04:00,439
me means knowing that your basic needs are covered, housing,

59
00:04:00,800 --> 00:04:03,879
your food, your healthcare, the essential things that allow you

60
00:04:03,960 --> 00:04:07,560
to go to bed at night and sleep that's a

61
00:04:07,639 --> 00:04:12,280
huge one for me. Number two freedom Freedom means having

62
00:04:12,400 --> 00:04:16,959
enough enough flexibility to make choices. So maybe take that

63
00:04:17,000 --> 00:04:19,560
trip that you wanted to, Maybe buy those golf clubs

64
00:04:19,639 --> 00:04:22,680
even though they don't help, Maybe try a new hobby,

65
00:04:22,759 --> 00:04:25,720
or just simply go out for dinner without feeling guilty

66
00:04:25,759 --> 00:04:29,240
when the check comes. And so that's freedom. Now. Joy.

67
00:04:30,439 --> 00:04:33,600
Joy to me means spending money on the things that

68
00:04:33,680 --> 00:04:36,560
truly matter to you, not what others expect of you,

69
00:04:36,680 --> 00:04:39,759
not what society says retirement should look like, but what

70
00:04:39,959 --> 00:04:45,160
actually makes your life richer. For some people, that could

71
00:04:45,199 --> 00:04:48,560
be travel, For others, it's family, volunteering, learning something new.

72
00:04:48,560 --> 00:04:52,759
Who knows that retirement spending sweet spot will look different

73
00:04:53,399 --> 00:04:58,639
for everything. But honestly, so far, when I think I've

74
00:04:58,720 --> 00:05:00,879
uncovered or what I've been talking to a bunch of

75
00:05:00,920 --> 00:05:06,000
other people, is that another unexpected thing happens in retirement.

76
00:05:06,160 --> 00:05:11,120
Many people discover they actually need less money than they expected.

77
00:05:11,439 --> 00:05:14,959
They're no longer commuting, they've paid off or paid down

78
00:05:15,040 --> 00:05:18,240
their house, they're not buying work clothes, they're not saving

79
00:05:18,279 --> 00:05:20,560
as aggressively as they did for the future. So in

80
00:05:20,680 --> 00:05:27,759
many cases, the spending patterns shift naturally so the spending

81
00:05:27,839 --> 00:05:33,720
patterns shift, and then what replaces those older spending patterns

82
00:05:33,759 --> 00:05:39,000
are experience based choices, the travel, the dining, the family,

83
00:05:39,040 --> 00:05:42,959
the pursuing the passions. And that's where this video really

84
00:05:43,000 --> 00:05:49,600
becomes insightful, is because thoughtful or intentional spending becomes important.

85
00:05:50,439 --> 00:05:54,319
Because here's what else I've learned, and this one is huge.

86
00:05:54,519 --> 00:05:58,959
At this stage of our lives, time becomes more important

87
00:05:59,120 --> 00:06:02,439
or more valuable than money. And when we were younger,

88
00:06:02,480 --> 00:06:04,959
we had the opposite problem. We had lots of time

89
00:06:05,120 --> 00:06:07,399
but no money. And now we have a little bit

90
00:06:07,399 --> 00:06:12,120
more money, but our time is going fast. It is

91
00:06:12,279 --> 00:06:15,759
just flying by. And so I hear people all of

92
00:06:15,800 --> 00:06:18,279
the time, and the older you get, the more I

93
00:06:18,319 --> 00:06:20,600
hear this. I wish I would have I wish I

94
00:06:20,639 --> 00:06:22,720
had traveled more when I was younger. I wish I

95
00:06:22,720 --> 00:06:24,839
would have done more. I wish I would have spent more.

96
00:06:24,879 --> 00:06:28,439
I wish I would have done something differently, But many

97
00:06:28,480 --> 00:06:34,680
people kept postponing their experiences, scared to spend anything. So

98
00:06:34,839 --> 00:06:37,959
this is what I'm trying to say, is I believe spending,

99
00:06:38,000 --> 00:06:42,399
that retirement spending sweet spot should be used. Of course,

100
00:06:42,439 --> 00:06:45,879
over and above, your basics should be used to create memories,

101
00:06:46,600 --> 00:06:50,199
to create experiences. Money's just the tool to do that.

102
00:06:50,519 --> 00:06:54,680
As a it's a purpose, I guess, is to support

103
00:06:54,879 --> 00:06:59,279
a life well lived, whatever that means to you, whatever

104
00:06:59,319 --> 00:07:02,480
that is. Intead of asking yourself, can I afford this?

105
00:07:03,079 --> 00:07:07,279
Sometimes the question is does this add value to my life?

106
00:07:07,920 --> 00:07:11,800
Or even another question could be if I always wanted

107
00:07:11,800 --> 00:07:14,639
to do this? Or even a third question, when I'm

108
00:07:14,720 --> 00:07:18,519
ninety five, sitting on my rocking chair, hopefully still alive

109
00:07:18,600 --> 00:07:22,240
and in good health, will this will taking this trip

110
00:07:22,279 --> 00:07:25,879
have effected my life in anything other than positive memories.

111
00:07:26,279 --> 00:07:30,040
For example, a trip with your grandchildren, maybe learning a

112
00:07:30,079 --> 00:07:33,839
new skill, maybe helping somebody. Are the things that really

113
00:07:33,920 --> 00:07:40,160
mean something to you? Spending should be intentional. So instead

114
00:07:40,160 --> 00:07:43,800
of thinking about retirement money is something fragile that should

115
00:07:43,879 --> 00:07:47,279
never ever be touched, I think it should be used

116
00:07:47,399 --> 00:07:53,519
as a resource designed to make your retirement remarkable. You

117
00:07:53,759 --> 00:07:57,399
didn't save money all those years just to look at

118
00:07:57,399 --> 00:08:01,560
it on a spreadsheet. You saved to build a future,

119
00:08:01,959 --> 00:08:06,839
A future filled with experiences, with connection, with learning, with enjoyment,

120
00:08:07,199 --> 00:08:12,800
and finding that retirement spending sweet spot would be wonderful

121
00:08:13,000 --> 00:08:16,959
for all of us. Recognizing you need that financial security,

122
00:08:17,000 --> 00:08:22,240
well also giving yourself permission to live. So I think

123
00:08:22,319 --> 00:08:26,160
retirement and finding that retirement sweet spot right in the

124
00:08:26,199 --> 00:08:30,839
middle of it all. It's where financial confidence meets meaningful living.

125
00:08:31,319 --> 00:08:36,399
It's where thoughtful choices replace that fear. It's where money

126
00:08:36,559 --> 00:08:40,080
isn't necessarily the goal like it has been for years,

127
00:08:40,240 --> 00:08:43,039
but it's a support system for a life that feels

128
00:08:43,200 --> 00:08:45,759
rich in every sense of the world. Because at the

129
00:08:45,840 --> 00:08:50,360
end of the day, the real question isn't just hey,

130
00:08:50,440 --> 00:08:54,879
how much did you save? The real question is did

131
00:08:54,960 --> 00:08:59,120
you use your life, the one that we have now

132
00:08:59,159 --> 00:09:05,200
to create the experiences that truly mattered to you? And

133
00:09:05,279 --> 00:09:08,120
that's the real retirement sweet spot. I'd love to hear

134
00:09:08,200 --> 00:09:11,759
your thoughts. I'm ridprans Kith. This life starts at retirement.

135
00:09:11,840 --> 00:09:35,320
I produce a retirement lifestyle video once a week.